Critical HMDA Issues for HELOC Applications &
Coverage Changes for Commercial Lenders,
Effective January 1, 2018
Webinar OR Recorded Webinar + Free Digital Download
Friday, December 8, 2017
This is a morning webinar.
8:00 am – 9:30 am Pacific
9:00 am – 10:30 am Mountain
10:00 am – 11:30 am Central
11:00 am – 12:30 pm Eastern
HMDA reporters must follow the new rules for covered loan applications when final action is taken on or after January 1, 2018. While the focus of the changes has been on mortgages, there are significant changes for other types of applications. The dwelling-secured standard was generally adopted for closed-end loans and lines of credit for consumers. Under the new rules, HELOC reporting is required, within threshold limits. It’s imperative to know what information must be collected during a HELOC application.
Business or commercial loans have both the loan-purpose test and the dwelling-secured test. How will data be collected? What type of business-purpose loans will be reported? What factors are considered in the purpose test? What if the collateral is a mixed-use property? Will the current consumer application forms for HELOCs and the documentation for commercial loan applications provide data for the new reporting requirements? This must-attend webinar will address these key questions and much more!
- New CFPB HMDA implementation tool and data reference chart, released October 16, 2017
- Tips to use the HMDA Loan Scenarios tool from the CFPB for HELOC and multi-family applications
- Which consumer applications are covered loans that require data collection at the time of application?
- What is the correct application date?
- Identify the correct loan purpose – there are five options and rules for multi-purpose loans
- How to properly request and record demographic information and the process for applicants to “self-identify” under subcategories for ethnicity and certain race categories
- Reg B changes announced on September 20, 2017
- Which commercial applications are covered loans that require data collection at the time of application? What types of dwellings are included?
- What data will be reported or excluded for commercial applications?
- Potential problem areas for both HELOCs and covered commercial loan applications
- Best practices for documenting that applications for agricultural purpose are exempt
- TAKE-AWAY TOOLKIT
- HMDA key dates timeline and coverage charts
- Analysis of the August 25, 2017, final rule for line-of-credit thresholds and other clarifications
- Sample commercial loan application for a multi-family investment property outlining data mapping for the potential 110 data fields and the “pipe delimited file format” for each field
- HMDA fact sheet summarizing the key changes and implementation tips
- Road map tool to monitor implementation success
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
DON’T MISS THESE RELATED WEBINARS!
HMDA-LAR Changes Part 1:
Procedures & Tools for Capturing the New Data Fields, Effective January 1, 2018
on Wednesday, November 15, 2017
HMDA-LAR Changes Part 2:
Completing New Fields with No Predefined Codes, Effective January 1, 2018
on Friday, December 1, 2017
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND?
This informative session is designed for consumer lenders who assist applicants with HELOC applications, commercial lenders, loan assistants and processors, loan operations staff, compliance officers, auditors, IT staff, and anyone who needs to understand the 2018 HMDA rules.
Please note: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.
ABOUT THE PRESENTER – Susan Costonis, CRCM, Compliance Consulting and Training for FIs
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.
THREE REGISTRATION OPTIONS
Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
1. LIVE WEBINAR
The live webinar option allows you to have one internet connection from a single computer terminal. You may have as many people as you like listen and watch from your office computer. Registrants receive a website address and passcode that allows entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, passcode, and handouts will be emailed prior to the broadcast. You will need the most-current version of Adobe Reader available free at www.adobe.com.
2. RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Can’t attend the live webinar? This option provides a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 6 business days after the webinar. You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.
The recorded webinar may ONLY be ordered for 6 months following the live webinar. In addition, the download must be completed within 6 months of the live webinar date.
3. BOTH LIVE WEBINAR & RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Options 1 and 2 described above.
AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE